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Investors & landlords
If your LLC is going to be buying and selling houses as a business (i.e., flipping), then your LLC would be treated as a real estate dealer; the houses would essentially become inventory.
You would report on Schedule C since the LLCs are, supposedly, single-member LLCs and you would be able to deduct expenses provided you have begun operations (i.e., you are "open for business").
‎January 3, 2024
11:55 AM